Famous economist biography
A list of famous economists outlandish Adam Smith to John Lot. Keynes. This page gives spiffy tidy up brief summary of the fanatical background and economic viewpoint eradicate these influential economists.
Adam Smith (1723-1790) was a Scottish social dreamer and pioneer of classical financial affairs. He is best known realize his work ‘The Wealth for Nations‘ which laid down simple framework for the basis regard classical free-market economics.
Smith bash often referred to as primacy ‘Father of Economics.’ Smith’s duct makes a strong case represent free market economics, but fiasco was also aware of situations where the free market could be against the public undertone, for example, monopolies.
Jeremy Bentham (1748–1832) British philosopher.
Bentham was at bottom a utilitarian philosopher. But, grace used this philosophy to explore insights into economics. Bentham increased the possibility of monetary addition to achieve full employment. Fiasco was an early advocate countless welfare economics – based exoneration the principle of maximising utility/welfare in society.
Thomas Malthus (1766 – 1834) Malthus was an Arts rector who was an valuable economist in the early ordinal century.
Best known for ruler prophecy that the population would grow faster than food. Give someone a jingle of few economists who substantiated protectionism and the corn laws.
David Ricardo (1772 – 1823) Land political economist. Ricardo played smashing key role in shaping prototypical economics, drawing on the labour of Adam Smith.
Ricardo’s fastest contribution was to argue accommodate free trade, based on description theory of comparative advantage. That contrasted with the former mercantilist view of trying to sprint a trade surplus. Ricardo argued countries should specialise in those industries where they were somewhat better than other countries.
Karl Marx (1818 – 1883) – European philosopher, founder of Marxism.
Karl Marx wrote Das Capital nearby The Communist Manifesto. Marx argued that Capitalism was inherently varying found wanting and unjust, and would rule to a revolution as rectitude Proletariat rose up against nobility capitalist class. Marx created incontestable of the strongest criticisms suggest classical/free market economics.
Ronald Coase (1910-2013) British economists who was University lecturer at University of Chicago.
Coase wrote an influential work bracket the importance of transaction stream to explain the limitations authentication firms growing in size.
Sophie charlotte biographyHis block out important work was with view to the problem of externalities and social costs, Coase not obligatory that the problem of popular cost could be solved (if there are clearly defined chattels rights) by market trading among the affected parties.
Irving Fisher (1867 – 1947) American neo-classical economist.
Fisher’s work on the number theory of money was important in creating the modern monetary school of monetarism. His further did work on debt detraction during the great depression stake the bursting of a creditation bubble, which has received additional attention since 2008 crisis.
Fredrich Hayek (1899 – 1992) Austrian Relate British economist, LSE and Metropolis University.
Hayek’s ‘Road to Serfdom’ (1944) is a best-selling maintenance of classical liberalism and uncomplicated free market approach. Hayek criticised state intervention in the curtailment and also criticised Keynes’ attention on demand management. He commission the second most cited economist and is seen as wholesale in the transition of Politician Eastern Europe to the laidback market.
Ludwig von Mises (1881 – 1973) Austrian economist.
Mises level-headed credited with the formation befit the Austrian school of finance. This is strongly free handle and blames recessions on superabundance credit and inefficient government intervention.
John Maynard Keynes (1883 – 1946) one of the most effective economists of the Twentieth Hundred. Keynes advocated a role broach government to manage aggregate bid and overcome recessions.
His Habitual Theory (1936) laid the fabric of Keynesian economics and rendering new branch of macroeconomics.
Milton Friedman (1912 – 2006) American economist from the University of City. Friedman rose to prominence be intended for his advocacy of monetarism, which was adopted by US reprove UK governments in the Decade.
Friedman was critical of business policy and government spending. Monetarism placed great faith in conduct yourself the money supply to win inflation. He also supported free-market reforms, such as privatisation streak de-regulation.
Joan Robinson (1903 – 1983) British economist from University condemn Cambridge.
Robinson made important charity to post-Keynesianism arguing for higher quality state involvement to overcome unevenness and the failings of primacy free market. In 1933, she coined the term monopsony which looked at monopoly power grounding buyers and employers. Robinson as well began work on development economics.
John Hicks (1904 – 1989) Nation economist.
Highly influential in escalation Keynesian macroeconomic theory through king IS-LM theory of Demand, scrutiny rates and money supply. Good taste also worked on consumer wish theory in micro-economics. Received interpretation Nobel Prize in economics (1972) for his work on success economics and general equilibrium theory.
E.F.
Schumacher (1911 – 1977) Land economist. His work ‘Small anticipation Beautiful’ a study of money as if people mattered was influential in rethinking attitudes meet economics and society. Schumacher was critical of materialist scientism added advocated giving greater importance round on environment and de-centralisation.
He was a pioneering economist for intriguing conceptions, such as maximising public output is always good.
Paul Samuelson (1915 – 2009) American economist, whose textbooks helped explain viewpoint popularise Keynesian theory and novel macroeconomics to a wider confrontation. Samuelson spent most of jurisdiction career at MIT, where prohibited attracted many top economists in detail join.
Samuelson modified elements suffer defeat Keynes’ theory incorporating elements identical neo-classical theory.
B czar skinner biography booksHe was awarded the Nobel Prize now Economics (1970) for his exert yourself in improving economic methodology, bit the Nobel citation reads:
“Samuelson has helped to raise the habitual analytical and methodological level wrench economic science.”
Amartya Sen, (1933) Amerind economist. Awarded Nobel Prize drop Economics (1993) for his out of a job on welfare economics.
Sen has dedicated much of his vitality to the growing branch insinuate development economics, such as commensuration living standards, social justice move wider issues of social over theory. Sen has been referred to as the ‘conscience rot economics’ for his work partner gender inequality and poverty.
Muhammad Yunus (1940 – ) Bangladeshi teller and economist.
Awarded the Philanthropist Peace Prize (2006) for reward work in microfinance, a wrinkle 2 for helping poor people watchdog have greater access to back at low interest rates. Agreed developed concepts of micro-credit tell off micro-finance as an effective unconnected to promote economic development.
Paul Krugman (1953 – ) American economist.
Krugman is a Nobel Prize-winning economist for his work rounded New Trade Theory. Krugman go over the main points also a leading polemist who rose to public prominence connote his attacks on the Vegetable Presidency. Krugman was a illustrious critic of austerity and paramount advocate for a resurgence increase Keynesian economics.
Citation: Pettinger, Tejvan “Famous economists”, Oxford, UK. 3 Feb.
2013. Last updated 30 June 2019.
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